If that happens, that will be an extremely bearish development .... will then experience vacuum for the bids for the rest of the day ... daily/ultra-nimble shorts covered today. Thats why such downdraft lasts for weeks now here, if not months. Swing-shorts will wait for a good entry around 25-27! Sideliners: will prefer to watch the action from the sides for a quarter or so ... as they have no hurry to get in now (unless they get an attractive entry point, where R/R ratio becomes appealing again, not north of 25). Who is left there to buy? Why should they now?
Long slide down here ... the more you try to hope and hold, the more it goes down! No dividend support, -ve outlook and -ve macro env! R/R ratio totally unfavorable to be a long here at this juncture, IMHO!